Another day, another Bitcoin treasury.
But this time, with a twist: Earlier this week, macroeconomist and all-round Bitcoin legend Lyn Alden announced Orange Juice — an investment firm that aims to buy, improve and get businesses on a Bitcoin standard.
The idea is that Orange Juice will buy small and mid-sized businesses at low prices, improve their operations, and hold them indefinitely rather than reselling them.
A portion of the businesses’ profits will get converted into Bitcoin, which serves as the company’s treasury asset.
“Pure-play Bitcoin holding companies exist, but their cash-flowing operations tend to be small or non-existent,” Alden wrote in a blog post.
She added: “Orange Juice instead will emphasize building a strong and diversified base of cash flows, with a portion of the retained earnings of its businesses accumulating into a Bitcoin treasury.”
Ego Death Capital partners Jeff Booth, Lyn Alden, Nico Lechuga, Andi Pitt founded the company along with Adrian Steckel and Ruben Zweiban, while Mexican billionaire Ricardo Salinas participated as the anchor investor, a Wednesday announcement read.
Salinas — one of Mexico’s richest men — has long-praised Bitcoin and last month admitted he had increased his allocation in the asset from 10% to 70% of his portfolio.
It added that the company had already raised $40 million and intends to pursue a public listing in the future.
“Over the coming decades, a significant wave of business successions will take place,” the announcement said. “Unlike traditional private equity, Orange Juice is not constrained by fund cycles or the pressure to resell, allowing it to focus on the long-term health of its businesses.”
Bitcoin treasury craze
The announcement comes at a time when Bitcoin treasuries have taken a hit: the business model — of buying and holding Bitcoin and other digital assets with spare cash — suffered last year with a plunge in crypto prices.
Strategy, the biggest and oldest Bitcoin treasury, has seen its Nasdaq-listed stock nosedive by nearly 80% over the past year.
Little known publicly traded companies in 2025 rushed to announce they were buying digital assets in a hope to boost their stock prices. The strategy worked but since the market downturn, a number of firms in the space have had to sell a portion of their holdings.
There are currently over 360 digital asset treasuries, according to BitcoinTreasuires.net, made up of private and public entities holding a variety of digital assets.
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